Exports continue to perform impressively for third month in a row on back of good order booking and gradual opening of key global markets

Responding to the trade data for May, 2021, Sharad Kumar Saraf, President, FIEO said that the continuing impressive growth in exports reiterate our assessment that order booking position of our exporters is not only extremely good but also the gradual opening up of major global markets and improvement of situation in the country is expected to push exports growth further. President FIEO said that growing by about 8% even on the base of May 2019 reflects a positive trend for the sector.
FIEO Chief added that such a growth during the month has been mainly on account of growth in Petroleum products, Engineering goods and Gems & Jewellery, the major contributors to the country’s export basket, which have shown impressive performance compared to May, 2020. He also said that 19 out of 30 major product groups of exports have either shown a very impressive high positive growth starting with 3-digit defying all the odds when there is still a bit of scepticism persisting in the global economy on the expectation of a third wave of Covid-19 pandemic.